Why People Love Prophix
It’s thanks to our dedicated and hardworking customers that we have one of the highest customer satisfaction scores in the industry. Their feedback and direction help make us the best FP&A software on the market. Prophix's usability, availability, and performance support business' strategies for today and tomorrow. We appreciate every user who took the time to share their experience with other finance professionals looking to transform their finance function.
The experienced Prophix consultants are a pleasure to work with and very knowledgeable. The product itself is powerful and provides valuable insights, reports, analytics and process improvements. Streamlined our planning process. We use Prophix as our 'one source of the truth' for financial reporting, which has been great. It has reduced our CFO's forecasting time from several hours a month to less than an hour.
I enjoy using the line item detail. It is extremely helpful when trying to stay organized. We have many vendors we use so being able to list them individually with the invoice amounts is a major plus! The detailed planning manager is also an amazing tool. All around, I am enjoying Prophix. It is extremely user friendly. I have very little training since I started using the software a little over a year after my team implemented it and I feel like an expert!
My favorite part of the program is the Ad Hoc function. Having all of our financial and statistical data available to pull in any format at any given time is extremely helpful. We have used it to streamline our budget process and to build reports for better analysis of our performance. We also use it for monthly financial reporting.
Our experience with Prophix has been very favorable. We were looking for a tool to centralize our global financial reporting and planning functions and Prophix allowed us to accomplish this at a very reasonable cost vs other applications that were under consideration. The interface is intuitive and easy for end users to complete the required tasks. The web client satisfied our need for a solution that could be implemented globally.We are also able to administer and maintain the tool within the finance function which increased our flexibility and reduced our reliance on IT. The reporting capabilities met our needs and allows us to easily consolidate and present our data in a multi currency environment. We use Prophix for reporting at all levels, from individual business unit data to Board and Executive level reports. We have several connections to other systems to import data and plan on adding more. The drill through capability to this data is also a nice feature.
I adore the constant improvements. Prophix product development team listens to the customer needs and implements changes as soon as possible. Also, there's a customer forum which allows you to get feedback from other users and see how others are utilizing the tool. Prophix helps solve consolidation reporting issues by making the process simple. Now, I can focus on the analyzing the data rather than configuring spreadsheets.
Works great for budgeting and reporting. Most users use the web client because of the dashboard availability, which is great but also limited. I do look forward to Prophix expanding the dashboard capabilities in the future as there are many improvements that can be made, but they are off to a good start.
Prophix is well suited for reporting and analysis purposes. We have used it to streamline our budget process and to build reports for better analysis of our performance. With the Ad Hoc function, the ability to pull up any data, across dimensions without having to build a whole report allows for more efficient, on demand analysis.
Prophix is a fantastic system and I really enjoy using it. However, some accounting systems don't work too well with Prophix logic and it can be extremely difficult at times to get the two systems to work together. I would just make sure Prophix integrated well with my accounting system before using. :)
Consolidating financials and forecasting and Budgeting. The input templates are relatively easy to create and maintain. With good design (template and process), it can be a seamless tool to gather forecast and budgeting data from end-users and summarize for top-level reporting. Works well for multi-location/country organization (handles fx well). Versioning works well as long as you don't need too many versions (20+ especially if using calculated versions). Good functionality and excellent value for mid-market solution.
Prophix is appropriate for almost any reporting requirement, internal or external. It deals with data from multiple sources. It has worked well for us. It's less appropriate for General ledger, P2P, and AR. Being cloud/ web based, you will of course need a very good internet connection or performance will be very slow.
Prophix is becoming a key part of of business, providing report for financial and non financial information in one user friendly location that allows us to tailor the information available to individual user groups. We are developing more and more areas to use Prophix as it is clear that it is more than just a finance tool. the currency conversion ability is changing the way we work which is brilliant.
Our initial experience with implementing the Prophix’s solution was very positive. The Prophix’s sales and technical teams worked with our individual department members to fully understand their unique requirement which significantly helped in implementing an effective solution.
Solution offered by a seller perfectly adapted to the needs of what we seek in the market in terms of projection and financial consolidation software and budget planning. The software can be tailored to your needs, however it is necessary prior knowledge of your information bases for an assertive construction and deployment of the solution.
The Prophix team supported us through a full implementation start to finish remotely due to the pandemic and remote working requirement. They worked with the FP&A Finance team to help us bespoke the Prophix system to the monthly financial reporting and planning. Successful implementation with 90 plus users accessing the system globally (including EMEA, North America and APAC) through Cloud System access. Smooth implementation and able to consolidate multiple accounting systems and processes to report from one platform across the business.
Fantastic product, made a huge difference for our finance team for reporting and forecasting and budgeting and providing terrific analysis of a very complex set of business data. Definitely do everything with the consultants for Build to get a true appreciation of the product.
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